Big ideas that were unveiled by credit union innovators (above) at The League's May Convention are evolving into some amazing improvements in credit union service. What's more, they're inspiring credit union professionals statewide to apply for their chance to innovate with professional guidance from the Filene Research Institute. Submit your application or nominate someone by August 10 to take part in WILD - the Wisconsin Ideation & Local Development initiative.
Four teams of Wisconsin innovators learned the Filene Method of innovation over a nine month period and showcased their ideas at Convention. Read more about the sixteen individuals, who work in areas as diverse as branch operations, marketing, lending, risk management, technology and training.
The feedback they received on their ideas is further equipping them as they continue to develop some novel concepts that include:
One-stop financial education resource and partnership portal
Developed by (L to R) Mandi Goodness, Bull's Eye Credit Union; Ross Hubbard, 1st Community Credit Union; Amy Bauer, Royal Credit Union; and Fred Blask, Corporate Central Credit Union (Team FARM)
This is an online resource designed to bring educators and credit unions together. This solution provides information regarding resources to support a financial education curriculum and helps educators find age-appropriate material for their classroom or identify educational opportunities for themselves through participating credit unions. Watch their project video.
Gamified financial education & marketing tool
Developed by (L to R) Bryan Ermeling, CoVantage Credit Union; Ben Bauer, Simplicity Credit Union; Alissa Haines, Altra Federal Credit Union; and Kara Guse, Glacier Hills Credit Union (the Innovation KABB).
This is an app-based financial education opportunity that rewards young members for financial learning by sending to the user's home a customized box of freebies. It would create new opportunities for credit unions to market products and services to them in a more targeted fashion based on their continued learning and engagement. Watch their project video.
Streamlined private party vehicle purchasing
Developed by (L to R) Shay Santos, Dane County Credit Union; Lesley Enz, PCM Credit Union; Sonny Schaar, Premier Financial Credit Union; and Matt Sathoff, University of Wisconsin Credit Union (the Trending Dabbers).
In Wisconsin, when a lien is listed on a vehicle title, the title is held electronically by the financial institution listed as lienholder. It is common for vehicles to be purchased from a private party despite the existence of a lien on the vehicle title. Title Genie would eliminate the period of uncertainty that exists between the time when the buyer pays the seller and when the buyer receives the confirmation of ownership from the DMV. Watch their project video.
Automated member identity verfication system
Developed by (L to R) Lindsey DeBartelo, Blackhawk Community Credit Union; Tina Liegl, Heartland Credit Union; Danielle Green, Park City Credit Union; and Jonathan Probst, Capital Credit Union (the Quad Squad).
This is a mobile banking app designed to protect members' data security. It uses token technology to eliminate the need for members to verbally disclose identifying details and speed up the verification process with just one click. Watch their project video.
Read more details about each team's ideas.
Another group of BIG thinkers joins this process in August when the Wisconsin Ideation & Local Developmen (WILD) initiative convenes the next group of innovators to advance great ideas in Wisconsin. Tap your potential and showcase yourself as a rock-star thinker in the credit union Movement! Learn more via a free webinar Aug. 2 (or recorded version from July) and apply to take part (or nominate someone!) by Aug. 10. We'll continue to report on all the innovators' progress!
WILD is Wisconsin credit unions' commitment to participate actively in the disruptive transformation of financial services while preserving their singular commitment to member financial wellness.
Wisconsin credit unions come together as a single League to Unite for Good; we remove barriers, increase awareness and foster service excellence. All of these steps help more Americans to see credit unions as their best financial partner and regard their credit union as their primary financial institution. Read more articles in our Unite for Good series.